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**Questions I need answered** PTY LTD COMPANY AND USING THE SAME ABN

Newbie

Views 786

Replies 3

Hi there, a few questions I have about ABN’s/tax time

My husband and I have a PTY LTD private company registered with ASIC. I am a share holder and we have an ABN. We run an automotive business. I have been offered a job cleaning a facility to fill in for someone on leave. This will only be for roughly 8 weeks.

Now my question is -
- Can I use the ABN that I’m a share holder off for this job?
- Will it have any effect if I’m using the ABN as a cleaner while my husband is using it for our automotive business?
- I know I will need to write up invoices for the cleaning job I want to undertake but what needs to be included in those invoices?
- What do I need to know and do tax wise when it comes to doing a return?

If there is anything else you think I should know relating to this issue please send me a reply.
Thanks
1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Devotee

Replies 2

a) The company can be the entity that undertakes the cleaning work (i.e. yes, you can use the company ABN, but it will be income of the company)

b) No issue with ABN being used for two different income streams

c) Company name, company ABN, etc

d) The income is likely to fall under the Personal Services Income rules. Chat to your accountant about it

3 REPLIES 3

Most helpful response

Devotee

Replies 2

a) The company can be the entity that undertakes the cleaning work (i.e. yes, you can use the company ABN, but it will be income of the company)

b) No issue with ABN being used for two different income streams

c) Company name, company ABN, etc

d) The income is likely to fall under the Personal Services Income rules. Chat to your accountant about it

Newbie

Replies 1

Thank you SO much for replying. I just have a few more questions. I will definitely be seeing our accountant but before I do -
- I know I need to include abn, company name etc on the invoices but what else EXACTLY should I include? I’m not exactly sure how to set it out.
- Do I need to provide payment summary for tax time?
I think that’s all for now. Hopefully you understand the questions I’ve tried to word them the best way possible. Totally new to this sorry! And thank you again

Devotee

Replies 0

@gg94 this page should help regarding how to invoice.

 

There is also information here on payment summaries and when you have to issue them.